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Deals
NOTICIAS/ NEWS
DEALS - OPERACIONES
Kromann Reumert assisted Europe’s second-largest aircrete manufacturer H+H International A/S in connection with a rights issue underwritten by shareholders and new investors, generating net proceeds to the company of approximately EUR 58 million. The rights issue was implemented following negotiations with Nordic Capital private equity funds, Denmark’s largest bank Danske Bank, and ATP (the Danish labour market supplementary pension scheme), among others. Kromann Reumert has assisted the Danish biopharmaceutical company Bavarian Nordic A/S in connection with a rights issue announced by the company on Friday 8 January 2010. In the offering 99.6% of the new shares were subscribed resulting in gross proceeds to Bavarian Nordic A/S of approximately EUR 42.26 million. Kromann Reumert and Mannheimer Swartling assisted postal services provider Posten Norden, the company resulting from the recent merger between Danish Post Danmark A/S and Swedish Posten AB, when it entered into an outsourcing agreement for the development and management of its IT applications. The outsourcing involved approximately 280 IT workers, including 130 in Denmark. Kromann Reumert assisted a number of junior banks of Tower Group A/S, a Danish listed property company with a balance sheet total of approximately DKK 5 billion consisting of German properties, in connection with a reorganisation of the company after it had faced liquidity problems in January 2009. Kromann Reumert’s assistance included negotiations for the granting of additional operating credit during the reorganisation period and for the conclusion of various agreements, including an investment agreement and a shareholders’ agreement with a new investor, new loan agreements, intercreditor agreements with German senior banks and underwriting agreements, and review of a prospectus and various stock exchange law and other matters. Kromann Reumert assisted property investment and development company Essex in connection with a reorganisation agreement for the whole Essex Group. Involving 28 banks and mortgage credit institutes and total debts of more than DKK 10 billion, the agreement is one of the most extensive reorganisation agreements ever made in Denmark. Kromann Reumert assisted insurer Gjensidige Forsikring in connection with its purchase of Nykredit Forsikring A/S from Nykredit Realkredit at a price of DKK 2.5 billion, including goodwill of approximately DKK 1.5 billion. The Nykredit Group and Gjensidige Forsikring also agreed on long-term strategic cooperation, having entered into a distribution agreement under which the Nykredit Group will continue to sell general insurance products and services to private clients under Nykredit’s brand and to commercial clients, including agricultural clients, under Gjensidige’s brand. Kromann Reumert was appointed supervisor of the Danish cooperative society Aarhusegnens Andel AMBA when it suspended payments. The society has a balance sheet total of approximately DKK 1.3 billion and around 270 employees. A framework agreement, which was approved by the Danish Competition Authority, was drawn up involving a restructuring of the society and a transfer of all its assets, including its subsidiaries, and liabilities to a syndicate consisting of two other Danish cooperatives, DLG AMBA and Danish Agro AMBA. Kromann Reumert advised Danske Markets, a leading full-scale investment banking brand of the Danske Bank Group, in connection with a rights issue by the Danish property company Jeudan A/S announced in a prospectus of 8 March 2010. Implemented on 30 March 2010, the rights issue generated gross proceeds of approximately DKK 983 million.
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